March 19th, 2008

Notes from Beijing Day 2

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1. “What is allowed does not mean it can be done. What is not allowed does not mean it cannot be done.”

2. Foreigners aren’t allowed to trade A-shares, but you can if you really want. See (1).

3. Doing a local fund is really really tough. Even one of the most establish fund in China IDG-VC don’t have a local fund. This means they incur taxes for all their successful exits but not able to offset it against the loses.

4. The Chinese government is really rich right now. Their companies don’t need your investment (most of the time).

5. Tried out the 5 story entertainment. Level 1 – bath, Level 2 – Food, Level 3 – Entertainment, Level 4 – Massage, Level 5 – Private Rooms. Don’t ask about Level 5.

6. 45-60min gap between meetings is important.

7. Alternate meetings between the east and west side of Beijing is a very bad idea. The time I spent on the cab today is enough to bring me to Tianjin and back.

8. Need to plan out a trip to Tianjin.

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